Power

Power prices were largely dictated by the gas market as concerns regarding winter supply continue. Temperatures also remained below the seasonal norm for most of the week, while renewable generation was inconsistent.

Week Starting Price (Year-Ahead): £93.64/MWh

Week Ending Price (Year-Ahead): £100.83/MWh

Gas

Supply concerns continued to push gas prices higher this week, as storage levels remain low for this time of year. Maintenance in the North Sea reduced flows into the UK, while a lack of LNG cargoes arriving in Europe also had a bullish impact.

Week Starting Price (Year-Ahead): 91.74ppt

Week Ending Price (Year-Ahead): 97.15ppt

Commodities

Oil markets recovered this week following their strongest losses for over 9 months. Strengthening was fuelled by a weaker US Dollar and rising equity markets. Carbon markets also rebounded from the strong losses displayed last week.

Brent Crude Week Starting Price: $67.21/b

Brent Crude Week Ending Price: $71.90/b